Debt in developing countries : Expert views from Sub-Saharan Africa

The study presents the views of selected experts from Sub-Saharan Africa on the problems many countries in the region face with debt. The debt burden is a critical macroeconomic challenge in the region, as one third of SSA countries are classified either as debt distressed or in high risk of debt distress. The paper details the situation based on the latest data from the main international organisations. It reviews the academic and policy-oriented literature about the debt problems from a macroeconomic perspective, with special emphasis on private debt. Based on a structured survey of specialists from the SSA region, the paper sheds light on the reasons for, the economic impact and the outlook of debt problems. An overarching message from the survey is that economic policies play a key role in shielding against debt problems.